Latest market data shows the onshore yuan traded at 6.9795 against the U.S. dollar at 03:00 Beijing time, down 62 basis points from Monday’s close. The slight decline highlights growing caution among investors amid key economic junctures.
Trading Volume Remains Firm
The day’s trading volume reached $40.38 billion, indicating sustained market participation. Despite the minor depreciation, the yuan’s movement stayed within its recent normal range, without strong directional momentum.
- Yield trends in U.S. Treasuries exert clear influence
- Traders await upcoming Chinese economic indicators
- Central parity rate maintains steady guidance
Analysts note that recent yuan moves are largely driven by external forces, especially shifts in Fed policy expectations bolstering the dollar. With domestic fundamentals stable, the exchange rate is likely to trade in a range in the near term.